Emissions Trading Worldwide

Imprint
Publication Date
February 2016
Design
Lucid. Berlin
Printing
Oktoberdruck
Photos
Sahara desert, Algeria, November 2014 (cover) © USGS / ESA
Fingerprints of Water on the Sand, Oman, November 2015 (page 6) © NASA
Tropical Cyclone Chapala Over the Gulf of Aden, November 2015 (page 24)
© NASA / MODIS /Jeff Schmaltz
Sea Ice Off East Antarctica’s Princess Astrid Coast, April 2015 (page 28)
© NASA / Jeff Schmaltz, LANCE / EOSDIS Rapid Response
San Francisco Bay Area, USA, March 2015 (page 68) © ESA
Disclaimer
This report has been prepared by the ICAP Secretariat. For the purpose of this report, Emissions
Trading Systems (ETS) refer to only mandatory Cap-and-Trade systems for GHGs. Systems that
regulate other gases (e.g., other air pollutants) or trade other units (e.g., energy-efficiency certificates),
other market-based instruments (e.g., carbon taxes, baseline-and-crediting systems) and
voluntary programs do not fall under the scope of this report.
The findings and opinions expressed in this report are the sole responsibility of the authors. They
do not necessarily reflect the views of ICAP or its members. Duplication, processing, distribution
or any form of commercialization of such material beyond the scope of the respective copyright
law requires the prior written consent of its author or creator.
The data used in this report reflects the global state of play at the time of writing in January 2016.
Although the information contained in the report was assembled with the utmost care, updated
and/or additional information may have been released by the time of printing. ICAP cannot be
held liable for the timeliness, correctness, or completeness of the information provided. For any
corrections, additions or other comments on the content of this report, including relevant citations,
please contact the ICAP Secretariat at info @ icapcarbonaction.com.
Notes on Sources
The report draws on a range of sources, including official ETS information from governments and
public authorities, data submitted to the UNFCCC, or where available, other official reporting
and information provided by ICAP members or contributing authors. Global emissions data were
sourced from the World Resources Institute CAIT database — the latest available data is from 2012
and does not include LULUCF. Relative global emissions coverage was calculated by aggregating
absolute caps. Where information on emissions caps was not available, cap estimates based on
the relative coverage of a jurisdiction’s overall GHG emissions were used. Emissions coverage
under the national Chinese ETS is estimated at 3,500 MtCO2e, based on recent written statements
by the NDRC officials estimating the future market at 3,000–4,000 MtCO2e. Economic and population
data were obtained from the World Bank, official government statistics, and other financial
institutions. Among the Chinese pilot schemes, official information is scarce and not always publicly
available. Brazil’s GHG emissions data, including subnational jurisdictions, was provided by
the Federal Government of Brazil and excludes emissions from organic soils. Japan’s GHG emissions
data is a preliminary estimate provided by the Ministry of Environment. Information on
emitting sectors is based on self-reporting by the respective jurisdictions. The designation of sectors
is therefore not necessarily consistent across jurisdictions. The data for the INDC infographic
was based on ICAP’s analysis of INDC submissions received by January 2016. The pricing graphic
uses weighted, nominal average prices where available, except for the NZ ETS and the Swiss ETS,
which only indicate nominal average prices. The pricing graphic shows secondary prices, except
for the Swiss ETS. For the EU ETS futures prices (rolling front December contracts) were used.
Additionally, both Hubei and Chongqing only started trading part way through 2014 and very few
trades have yet occurred in Chongqing.
72